Syllabus
Updated A.Y. 2018-2019
ECONOMICS for BUSINESS
MICROECONOMICS
PROGRAMME A.Y. 2018-19
1. Production
Production Function
Short -Run Production
Long-Run Production
Returns to scale
2. Costs
Short -Run Costs
Long-Run Costs
3. Firm Organization and Market Structure
Ownership and governance of firms
Profit maximization
The make or buy decision
Market structure
4. Competitive Firms and Markets
Perfect competition
Competition in the short and long run
Competition and economic welfare
5. Monopoly and Market Power
Welfare effects of market power
Causes of Monopoly
Monopoly pricing and price discrimination
Bundling, advertising and bargaining
6. Oligopoly and monopolistic competition
Cournot and Bertrand oligopoly
Monopolistic competition
7. Game theory and business strategy
Games, dominant strategy and Nash equilibria
Repeated and sequential games
Stackelberg oligopoly game
8. Strategies
Mechanisms to create a collusive equilibrium
Cartels, deterring entry
Costs strategies
Behavioral game theory
9. Asymmetric Information
Adverse selection
Moral hazard
Contracts and monitoring with imperfect information
References
Managerial Economics and Strategy, J.M. Perloff and J.A. Brander, PEARSON, 2019
Chapters 5,6, 7,8,9,10,11,12,13,15